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NEW YORK, July 23, 2015 (Thomson Reuters Regulatory Intelligence) - Of all the changes to global financial markets in recent years, the risk management function has undergone one of the most dramatic transformations in the industry. The discipline is broader, more sophisticated, and more diverse than ever before, encompassing new responsibilities that add operational, systemic, technology, vendor, and physical risk, as well as business continuity management, to the more traditional financial risk categories.

from Financial Regulatory Forum:

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It is easy to fall into the belief that we are living in special times; that greed, avarice, fraud, and swindle are at new heights; that bankers are worse than they've ever been; that public trust in them is at historic lows. Nearly every day we learn of yet another major fine imposed on a bank for some wrongdoing, all this while the leaders of finance lament the burdensome rules they must now work under.
Pity them, and pity us, but life has always been that way, or at least that is the lesson drawn in reading the latest edition of Lapham's Quarterly "Swindle & Fraud." We are reminded that humans have a long history of behaving badly, and efforts to change that reality have usually run aground. Deception, lies, fraud and confidence tricksters are part of our fabric, whether in business or finance, on a New York street corner, Barnum’s circus, or ancient Greece.

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The Dodd-Frank $50 billion asset threshold used to categorize systemically important banks has been a strategic business factor for E*Trade, the online broker, and unless there are compelling factors to breach the mark, the firm will continue to limit expansion of its balance sheet, chief risk officer, Mike Pizzi, said in an interview this week.

from Financial Regulatory Forum:

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In an effort to streamline banks' regulatory data through increased transparency, and make them more comparable and consistent across the board, the Basel Committee on Banking Supervision has publishedrevised standards on disclosures.

from Financial Regulatory Forum:

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A process of "derisking" is underway by financial firms exiting sectors that represent compliance landmines, bankers said on Tuesday, but a top U.S. sanctions enforcer said that is sometimes just the right move.

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TORONTO, July 17, 2014 (Thomson Reuters Accelus) - In yet another worrying sign for Canada's financial sector, Moody's Investors Service has lowered its outlook for the Canadian banking system from "stable" to "negative" over uncertainty about government willingness to bail out banks during a crisis. It follows a pair of recent warnings issued by the Bank of Canada (BOC) and the Bank for International Settlements (BIS), both of which highlighted the growing risk of stress posed by runaway consumer debt and property prices.

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NEW YORK, Apr. 10, 2014 (Thomson Reuters Accelus) - While fast is good, smart is better, and with untold resources of computing power and memory banks in the clouds, the new frontier in electronic trading combines sophisticated intelligent software with rapid-fire processing, enabling traders to stay one step ahead of the regulators.

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LONDON, Apr. 4, 2014 (Thomson Reuters Accelus) - Regulators face searching questions about whether they acted effectively in the multi-million pound collapse in 2012 of an unregulated collective investment scheme (UCIS). The then Financial Services Authority's (FSA) decisions concerning the Connaught Income Fund, Series 1, a UK-domiciled fund based in London, will come under fresh scrutiny at a debate in Westminster Hall, between members of parliament and HM Treasury this month, subject to scheduling. The Financial Conduct Authority (FCA) has said that the FSA, its predecessor body, acquitted itself well in dealing with the situation. Detractors, including investors, MPs and independent financial advisers (IFAs), have said the regulator failed to act appropriately on warnings about the misappropriation of multiple millions of pounds from the fund.
Some have found fault with the regulator, fund operators and IFAs who sold the Connaught fund, but it remains to be seen who, if anyone, will be held broadly accountable. Critics of the regulator have said it failed to investigate effectively evidence of financial misappropriation and insolvency, at Tiuta Plc (Tiuta), a regulated mortgage lender, to which the fund was lending money. The evidence was provided by whistleblower George Patellis, chief executive of Tiuta, which, like its unregulated subsidiary,Tiuta International (TIL), was a specialist partner to the Connaught fund.